PPG Industries (NYSE:PPG) Stock Rating Upgraded by StockNews.com

PPG Industries (NYSE:PPG) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

A number of other equities research analysts also recently commented on PPG. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup cut their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

NYSE:PPG opened at $121.29 on Tuesday. The firm’s fifty day moving average price is $127.14 and its 200 day moving average price is $127.59. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business posted $2.07 EPS. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that PPG Industries will post 8.18 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

Institutional Trading of PPG Industries

A number of institutional investors have recently modified their holdings of PPG. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $25,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $37,000. Finally, Hara Capital LLC purchased a new position in PPG Industries in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.